Latest Reports Market Movers on Mitel Networks, IAMGOLD, Argonaut Gold, and Newmarket Gold

NEW YORK, NY / ACCESSWIRE / November 4, 2016 / The TSX fell to a three-week low Thursday as the energy sector fell on weak oil prices. The S&P/TSX Composite Index declined 0.08 percent to close at 14,583.42, while the S&P/TSX Venture Composite Index posted a decline of 1.19 percent to close at 760.96. The 0.66 percent decline by the Energy sector offset gains of 0.27 percent and 1.01 percent by the Energy and Materials sectors.

U.S. crude for December declined 1.5 percent to settle at US$44.66, marking the fifth consecutive losing session Thursday. The U.S. Energy Information Administration on Wednesday reported U.S. crude inventories increased by a record 14.4 million barrels for the week ended October 28th, which is far more than increase of 1 million barrels analysts had expected.

U.S. Federal reserve kept rates unchanged on Wednesday, but signaled rate hike likely in December if there is “some further evidence” of meeting their objectives. The Federal Open Market Committee did give a nod to increasing inflation but noted that it is still below of target 2 per cent.

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Mitel Networks Corporation (TSX: MNW)

Get Your Up-To-Date Mitel Networks Research Report at www.rdinvesting.com/company/MNW.

Mitel Networks’ shares spiked 5.18 percent to close at C$8.94 a share Thursday. The stock traded between C$8.50 and C$9.10 on volume of 668,836 shares traded. The company reported a GAAP net income of $25.1 million, or GAAP earnings per share of $0.20, for the third quarter of 2016, compared to a GAAP loss of $8.1 million, or GAAP loss of $0.07 per share, for the third quarter of 2015. Revenues for the third quarter totaled $279.8 million against revenue of $285.8 million reported in third quarter 2015. Shares of Mitel Networks have fallen approximately 16.2 percent year-to-date and down roughly 7.0 percent in the past month.

IAMGOLD Corp. (TSX: IMG)

Get Your Up-To-Date IAMGOLD Research Report at www.rdinvesting.com/company/IMG.

IAMGOLD’s shares increased 5.09 percent to close at C$5.57 a share Thursday. The stock traded between C$5.23 and C$5.58 on volume of 3.24 million shares traded. The company will now release its third quarter 2016 financial results after market hours on Nov. 7, 2016, a day earlier than originally scheduled. Consensus of 12 analysts are estimating average EPS $0.02 per share of earnings, with low estimate of EPS of negative $0.4 per share and higher estimate of EPS of $0.4 per share. Canaccord analyst Tony Lesiak has recently upgraded his rating on the company to “buy” from “hold”. Shares of IAMGOLD have gained approximately 182.7 percent year-to-date and are up roughly 8.4 percent in the past month.

Argonaut Gold Inc. (TSX: AR)

Get Your Up-To-Date Argonaut Gold Research Report at www.rdinvesting.com/company/AR.

Argonaut Gold’s shares jumped 4.63 percent to close at C$2.94 a share Thursday. The stock traded between C$2.78 and C$2.95 on volume of 656,301 shares traded. The company reported a net income of $221,000 for the third quarter of 2016, compared to a loss of $11.2 million in the third quarter of 2015. Revenue totaled $35.0 million in the third quarter from sales of 25,429 gold ounces at an average price of $1,344 per gold ounce and 41,660 silver ounces at an average price of $20 per silver ounce. Shares of Argonaut Gold have gained approximately 147.1 percent year-to-date, but have fallen roughly 13.0 percent in the past month.

Newmarket Gold Inc. (TSX: NMI)

Get Your Up-To-Date Newmarket Gold Research Report at www.rdinvesting.com/company/NMI.

Newmarket Gold’s shares gained 3.90 percent to close at C$4.00 a share Thursday. The stock traded between C$3.91 and C$4.11 on volume of 1.04 million shares traded. The company reported a net income of $7.1 million for the third quarter of 2016, compared to a net loss of 10.3 million in the third quarter of 2015. The company reported year-to-date consolidated gold production of 175,041 ounces as of September 30th, 2016. Shares of Newmarket Gold have gained approximately 196.3 percent year-to-date and are down roughly 13.4 percent in the past month.

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